Key Points
Sold 47,996 shares of Thor Industries; estimated transaction value $4.89 million based on quarterly average price.
Quarter-end position value fell by $63.05 million, reflecting both trading and stock price moves.
The transaction represents 0.18% of the fund's $2.72 billion reportable AUM.
Fund now holds 2,551,474 shares, valued at $203.84 million as of March 31, 2026.
Thor Industries remains a significant position at 7.5% of AUM, making it the fund's fifth-largest holding.
- 10 stocks we like better than Thor Industries ›
What happened
An SEC filing dated May 14, 2026, shows Timucuan Asset Management sold 47,996 shares of Thor Industries (NYSE:THO) during the first quarter. The estimated transaction value is $4.89 million based on the average closing price from January through March. The quarter-end value of the position decreased by $63.05 million, reflecting both trading activity and price movements.
What else to know
This sale left Thor Industries at 7.5% of the fund's reportable AUM at the end of the quarter.
- Top holdings after the filing:
- Charles Schwab: $277.15 million (10.2% of AUM)
- Installed Building Products: $219.24 million (8.1% of AUM)
- Somnigroup International: $217.45 million (8.0% of AUM)
- Analog Devices: $216.29 million (8.0% of AUM)
- Thor Industries: $203.84 million (7.5% of AUM)
As of May 20, 2026, Thor Industries shares were trading at $74.76, down 9.7% over the past year and underperforming the S&P 500 by 34 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $9.93 billion |
| Net income (TTM) | $300.41 million |
| Dividend yield | 2.78% |
| Price (as of market close May 20, 2026) | $74.76 |
Company snapshot
Thor Industries:
- Offers a broad portfolio of recreational vehicles (RVs), including travel trailers, motorhomes, fifth wheels, and related parts and accessories across North America and Europe.
- Generates revenue primarily through the design, manufacture, and sale of RVs and components, and distributes products through independent and non-franchise dealers.
- Serves outdoor enthusiasts, families, and travelers seeking mobile leisure solutions, with a customer base spanning the United States, Canada, and Europe.
Thor Industries is a leading manufacturer in the recreational vehicle sector, operating at scale with diversified product lines and a global footprint. The company leverages a dealer-based distribution network to reach a broad customer base and sustain recurring revenue through both vehicle sales and aftermarket parts. Its strategic focus on product innovation and market expansion underpins a competitive position in the consumer cyclical industry.
What this transaction means for investors
Timucuan Asset Management is known for maintaining a concentrated portfolio and holding onto its favorite holdings for years, if not decades. I think this is important to note in the context of the firm’s Q1 Thor Industries sale, as I don’t believe investors should overreact to this news. The firm has been holding (and adding to) Thor since 2019 and only sold roughly 2% of its stake in Q1. In fact, Timucuan still holds nearly 5% of Thor’s total shares outstanding, so this isn’t a major sale by any means.
As for the stock itself, Thor operates in the highly cyclical RV industry, but has produced incredible returns for investors who bought and held for the long haul. Thor has delivered a 14% annualized total return since 1990 and has increased its dividend payments for 16 years, despite the inherent cyclicality of its operations. Furthermore, the company continues to hold a near-50% market share in the motorized RV niche in North America. It also holds No. 1 or No. 2 positions in N.A.’s towable niche and the European RV market.
While the current market is challenging for Thor, as consumer confidence remains weak and the company continues to rebound from the decline it saw following immense pandemic-fueled growth, its price-to-sales ratio of 0.40 is well below its ten-year average of 0.57. While I’m not sure exactly why Timucuan trimmed its Thor Industries position, investors shouldn’t worry about the transaction either way. In fact, I’d argue that if you’re truly interested in the stock, now is as good a time as any to take a serious look at the long-term outperformer.
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Charles Schwab is an advertising partner of Motley Fool Money. Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Installed Building Products. The Motley Fool recommends Charles Schwab and recommends the following options: short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
